Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Meme Coins => Topic started by: BattleAxe1 on July 20, 2024, 12:02:18 AM
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It has been a common notion that one of the key indicators of crypto bull run is Memecoin frenzy. While the speculation and innovations are building up momentum, we can say that Solana deserves to be designated as the throne of memecoins and striving to come next could be Base chain or Ton chain
Numerous Memecoins have been built on Solana. One creating narrative from a previous successful token narrative. Example LandWorf $WOLF, which has recently been added on a number of CEX claiming to be a reward for Pepe the frog fans.
A search on Dex screener will show that most of the recently developed Memecoins are built on Solana. Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?
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A search on Dex screener will show that most of the recently developed Memecoins are built on Solana. Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?
It seems to me that the hype around meme tokens in the Solana network arose after Saga phone holders started receiving drops last year. By the way, those who pre-ordered the second version of the Saga phone also started receiving airdrops of various meme tokens. Some of these airdrops brought a good profit. And this led to the fact that there is a huge number of users who are ready to buy almost any shitcoin. As you understand, normal developers and scammers have figured it out long ago.
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A search on Dex screener will show that most of the recently developed Memecoins are built on Solana. Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?
It seems to me that the hype around meme tokens in the Solana network arose after Saga phone holders started receiving drops last year. By the way, those who pre-ordered the second version of the Saga phone also started receiving airdrops of various meme tokens. Some of these airdrops brought a good profit. And this led to the fact that there is a huge number of users who are ready to buy almost any shitcoin. As you understand, normal developers and scammers have figured it out long ago.
Apart from that, what makes many meme coins on the Solana network is that they take advantage of where the Solana season starts. From there, many meme coins began to appear on the Solana network, many of which became fraudulent projects.
The airdrop given to users or holders of the launched Saga cellphone also attracted a lot of attention. Where they finally get a decent return and can even exceed their capital to buy a Saga cellphone.
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The answers to your concerns is very simple, and it's nothing other than hype, solana is currently hyped as the top blockchain where there is enough liquidity for memecoins, so so, it so normal thing for memecoin developers to rush there to have their own slice of the cake.
Think of it this way, the moment a developer creates on a particular blockchain (as it is in this case with Solana) and it succeeds, and another developer comes and do the same thing, and it succeeds, and up to 10 developers try the same thing and they all succeed, rest assured that alot more developers will start rushing to create it build on that blockchain.
It's like playing a particular slot game in gambling and winning huge, tomorrow, you are going play that same game to see if you will win again, and if you win, you will definitely come back again the next day, and the next, and the next, and your friends, and other persons are also going to start playing that game too, as long as the winning continues for the majority playing that particular slot game, that is hype at work.
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A search on Dex screener will show that most of the recently developed Memecoins are built on Solana. Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?
It seems to me that the hype around meme tokens in the Solana network arose after Saga phone holders started receiving drops last year. By the way, those who pre-ordered the second version of the Saga phone also started receiving airdrops of various meme tokens. Some of these airdrops brought a good profit. And this led to the fact that there is a huge number of users who are ready to buy almost any shitcoin. As you understand, normal developers and scammers have figured it out long ago.
You're right. Another reason I think is the low fees on solana chain compared to ethereum. That's also the reason why memecoins on base is slowly gaining attention eg Brett. Since landwolf is on solana, they might benefit from the hype. Seems they' just made a T1 cex collab. https://x.com/TheBoysClubWolf/status/1814096991619555511?t=Yp-x6UAl04nOVex061RuyQ&s=19
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The main reason that makes the most sense is because Solana has become the most consistently top primary blockchain for 2024. Maybe first it was the ETH network and then continued with the BSC network. However, in 2024, it will be the era of the Solana network.
Apart from that, Solana network remains some potential and advantages. This is a fairly cheap and affordable network with fairly high transaction speeds and features that are easy to find. So, because of that, many meme coin developers prefer to use this network for 2024. Because of this, the popularity of a network will also influence the faster popularity of meme coin projects so that they can be hyped more quickly.
Indeed, one of the purposes of meme coins is to build high hype so that it can generate high investor interest and skyrocketing price increases too. Whether in the future it will really be able to survive and develop again, that seems to be an afterthought.
This may help:
https://www.galaxy.com/insights/research/the-evolution-of-memes-and-their-place-on-blockchains/
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Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?
The hype of Solana and fewer transaction fees are the reason I believe for meme coins developers to use the network. The hype was created after a lot of airdrops were announced for Solana holders. To qualify for the airdrops investors had to have Solana in their wallets which caused the market capitalization to increase. As long as new meme coins are launched on the network and if they are successful this hype will continue.
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For two reasons, it is a trend and low fees that encourage investors to try an investment, and this is not limited to the Solana Blockchain, but rather any blockchain that investors talk about and contains low fees. Such tokens will not remain in the Solana Blockchain for a long time and interest in them will decrease over time, so they are at best a short-term investment. If not a scam you should avoid it.
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For two reasons, it is a trend and low fees that encourage investors to try an investment, and this is not limited to the Solana Blockchain, but rather any blockchain that investors talk about and contains low fees. Such tokens will not remain in the Solana Blockchain for a long time and interest in them will decrease over time, so they are at best a short-term investment. If not a scam you should avoid it.
I found another reason why developers are focusing more on Solana is because it is more developer-friendly. They do not need to learn and have expertise in a new programming language like in the case of Ethereum. Another big reason is the growing community which is most interested in investing in meme coins. You said it correctly these new projects will not last longer it is just a phase that will pass by after some years.
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Practically speaking, transactions on the SOLANA blockchain are more comfortable, it has triggered a lot of adoption from society from small to high levels... meaning, the existence of SOLANA is now considered the most convenient blockchain to use when compared to its predecessor... transaction fees in The world of cryptocurrency is classified as a sensitive thing... it really affects the activities of users at the lower level... so I think SOLANA blockchain is the current solution to attract more users.
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For two reasons, it is a trend and low fees that encourage investors to try an investment, and this is not limited to the Solana Blockchain, but rather any blockchain that investors talk about and contains low fees. Such tokens will not remain in the Solana Blockchain for a long time and interest in them will decrease over time, so they are at best a short-term investment. If not a scam you should avoid it.
I found another reason why developers are focusing more on Solana is because it is more developer-friendly.
Solana's Smart Contract Language is Rust and despite it it is more Performance and Security, but in terms of easy, Solidity excels. Therefore, for the beginners, the programming of ethereum is easier, but in terms of performance and reliability, or the lack of need to learn something new, so Solana is the best, but I do not see a great difference between them.
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For two reasons, it is a trend and low fees that encourage investors to try an investment, and this is not limited to the Solana Blockchain, but rather any blockchain that investors talk about and contains low fees. Such tokens will not remain in the Solana Blockchain for a long time and interest in them will decrease over time, so they are at best a short-term investment. If not a scam you should avoid it.
I found another reason why developers are focusing more on Solana is because it is more developer-friendly.
Solana's Smart Contract Language is Rust and despite it it is more Performance and Security, but in terms of easy, Solidity excels. Therefore, for the beginners, the programming of ethereum is easier, but in terms of performance and reliability, or the lack of need to learn something new, so Solana is the best, but I do not see a great difference between them.
Solidity may be a language that might have become common in 2024. Yet, it lacks the ability to welcome developers as Rust is more easy to understand and operate. Rust is not a beginner langi whereas Solidity is one to start from the beginning.
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How did you know that Memecoins have become widespread on the Solana Blockchain? The number of Memecoins on the Ethereum blockchain is still high, and Memecoins may exist on more than one blockchain.
I thought that Memecoins meant coins that have an independent blockchain and not tokens.
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I found another reason why developers are focusing more on Solana is because it is more developer-friendly. They do not need to learn and have expertise in a new programming language like in the case of Ethereum. Another big reason is the growing community which is most interested in investing in meme coins. You said it correctly these new projects will not last longer it is just a phase that will pass by after some years.
I am sure Solana must be offering many great features compared to Ethereum and that is why it is gaining a lot of traction in the market...and maybe And according to what I learned, Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025 which is so much lower than what can cost in Ethereum which has 1.001 USD/tx for Jul 25 2024. The difference is very significant along and with other good features Solana is really attracting people of all types from all over the world who are into cryptocurrency.
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It has been a common notion that one of the key indicators of crypto bull run is Memecoin frenzy. While the speculation and innovations are building up momentum, we can say that Solana deserves to be designated as the throne of memecoins and striving to come next could be Base chain or Ton chain
ton chain is definitely catching up to solana if not already most of the memecoins i see are built on ton and the latest craze of p2e games are mostly associated on ton so its popularity is increasing and increasing as we speak
A search on Dex screener will show that most of the recently developed Memecoins are built on Solana. Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?
it is definitely popularity of course developers want as much success rate as they can and they can have that if they already have a chain that is trusted and hyped by a lot of crypto enthusiasts
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.and maybe And according to what I learned, Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025 which is so much lower than what can cost in Ethereum which has 1.001 USD/tx for Jul 25 2024.
Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years.
Transaction fees are where Solana outperforms Ethereum.
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.and maybe And according to what I learned, Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025 which is so much lower than what can cost in Ethereum which has 1.001 USD/tx for Jul 25 2024.
Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years.
Transaction fees are where Solana outperforms Ethereum.
Well, Etherum is definitely not just a first runner, but also one of the very best and strongest blockchain in the entire crypto space, though the only downside of using ethereum to build is that you are going to miss some potential investors who are not able and or willing to spend hefty amount of money on onchain transaction fees.
Personally, I love Etherum chain even though I stopped transacting on it like several years ago when the hike in transaction fees become a norm. Right now, I feel the best blockchain to build on is Ton blockchain, though Solana seems to be still cheaper, but Ton blockchain is way very stronger and still cheaper than Etherum.
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- Is it okay here in this forum to post crypto wallet addresses just to receive airdrops, as mentioned here? Maybe later it will be banned like the other forum that is prohibited.
Can I just send my Sol address to your inbox and don't post it here in the announcement you made on this matter, just to keep my account safe and also for other participants?
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I think it’s because of The first Memes that built on it Have attracted the meme factor. And then continuous Memes come up because a lot of people have Created their own. Maybe because it is cheap as well.
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.and maybe And according to what I learned, Solana can process as many as 50,000 transactions per second (TPS), and its average cost per transaction is $0.00025 which is so much lower than what can cost in Ethereum which has 1.001 USD/tx for Jul 25 2024.
Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years.
Transaction fees are where Solana outperforms Ethereum.
Oh I see. Easily accessible to meme developers I guess plus the low fees too. I see. It appears mongy is the new Solana meme under 100m that's about to go bonkers due to whispers from CT. Bitget warning (https://www.Bitget ( [url=https://www.altcoinstalks.com/index.php?topic=329791.0) )/events/poolx?languageType=0]MONGY Poolx[/url] ill use that as an entry point since its low risk farming.
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I think it’s because of The first Memes that built on it Have attracted the meme factor. And then continuous Memes come up because a lot of people have Created their own. Maybe because it is cheap as well.
A few memecoins, such as BONK and BOME, have found success on Solana, making Solana, with its high speed, low fees, and vibrant community, the preferred ecosystem for memecoin projects. Memecoins don't require complex technology or solutions, they only need a good story to tell investors, and therefore often target less discerning investors on Solana.
Paying just a few cents in transaction fees and spending a few dozen $ to own thousands or millions of memecoins becomes easy for investors in the Solana ecosystem. I think this is the main reason why memecoins have exploded on Solana and continue to drive the ecosystem's vibrancy.
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This is not the case of always, just a couple of months ago this era started, SOL is cheap and fast, also after a great pump in the meme of SOL, developers started spamming the blockchain just out of greed, and many became somehow successful and maximum got dropped out. Meme still has a lot of potential, the trend of official blockchain-supported memes is great but for SOL it's already cashed out with BONK. Make sure to avoid the new meme projects even though there's a huge reward possibility but you should know rug pull in meme is very often.
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Solana Network is the way to bring the noise of meme coins to life in the crypto space we live in right now. And in addition to that, it's very cheap for the developers to make meme coins; it's like less than $5 to make meme coins using the Sol blockchain.
Isn't it just recently that Pump.fun has become a hotbed for making meme coins that cost less than $1? You have your own meme coins, and many people have gotten rich there just recently. That has been exploited by hackers, and because it is no longer trusted, Pump.fun has created another platform that is still similar to Pump.fun, only the name has changed.
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Solana was and still being a huge competitor for Ethereum, with FTX colapse wich had manipulated SOL value, and had a huge stake into it, we saw it crash like a shitcoin, wich never was, despite the FTX bad management. Solana has atracted whales into their chain, with "POINTS" feature, requestiing people to deposit crypto, similiar to Base chain. Whales always control the markets, and everyone wanna be where the money is at.
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Solana Network is the way to bring the noise of meme coins to life in the crypto space we live in right now. And in addition to that, it's very cheap for the developers to make meme coins; it's like less than $5 to make meme coins using the Sol blockchain.
Isn't it just recently that Pump.fun has become a hotbed for making meme coins that cost less than $1? You have your own meme coins, and many people have gotten rich there just recently. That has been exploited by hackers, and because it is no longer trusted, Pump.fun has created another platform that is still similar to Pump.fun, only the name has changed.
Although I don't like memecoins, I'm glad they're generating more transactions on Solana, meaning more SOL will be burned and the inflation rate will decrease, preventing selling pressure from rising too quickly. Memecoin investors will face risks while SOL holders will indirectly benefit from the trading activities of memecoins within the ecosystem.
I wish the hype around memecoins would shift towards DeFi or GameFi activities on Solana. These trends would bring more real value to the market, including widespread adoption and a large inflows in the long term, enough for the entire Solana ecosystem to grow rapidly as it did during the bullrun 2021.
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Developers will always consider some factors in place that will help them achieve their target results if they are launching the coin and are planning to reward their participants according, some of them will first look into the trend of the particular network, their acceptability on the crypto network, their network fee and how fast and reliable the network is as well before making a conclusion on using it.
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A search on Dex screener will show that most of the recently developed Memecoins are built on Solana. Aside from cheaper gas fees. What's driving the level of interest with Solana Memecoins?
The thing that usually becomes one of the main factors of meme coins is relying on their hype. And right now, the network that is quite hype is the Solana network, so many developers are taking advantage of this moment to use the Solana network as their choice.
Just look, there are also several meme coins that were previously created on the Ethereum and BSC networks. And now is the time for the Solana network. And maybe the TON network will follow.
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Solana claims to be able to process thousands of transactions per second but when tested it failed and the network went down while Ethereum has been running without interruption for years. Transaction fees are where Solana outperforms Ethereum.
Yes, I think it all boils down to the transaction cost and of course the hype surrounding Solana, that is why it is getting the limelight even away from Ethereum. I am not sure if the cost or fees will go down a lot in Ethereum if there can be a big boom on the Ethereum side. Anyway, though I am not a big fan of memecoins as I understand the risks and rewards possible, we are still thankful with the memecoin frenzy happening right now in Solana as it catapult more business to the cryptocurrency industry.